VMware Inc. (VMW) Earns Outperform Rating from RBC Capital Markets
VMware Inc. (NYSE:VMW)‘s stock had its “outperform” rating restated by equities researchers at RBC Capital Markets in a research report issued to clients and investors on Monday.
Several other equities analysts have also issued reports on VMW. Barclays PLC assumed coverage on shares of VMware in a report on Tuesday, September 13th. They set an “equal weight” rating and a $82.00 price objective on the stock. Jefferies Group raised their target price on shares of VMware from $84.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, September 12th. Summit Research began coverage on shares of VMware in a research note on Monday, July 11th. They issued a “hold” rating for the company. Mizuho restated a “neutral” rating and issued a $66.00 target price (up from $61.00) on shares of VMware in a research note on Thursday, September 1st. Finally, Deutsche Bank AG raised their target price on shares of VMware from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $75.64.
Shares of VMware (NYSE:VMW) traded down 0.130% during midday trading on Monday, reaching $72.885. 234,107 shares of the company’s stock were exchanged. The firm has a market cap of $30.93 billion, a PE ratio of 29.365 and a beta of 1.24. The stock’s 50-day moving average is $73.48 and its 200 day moving average is $64.40. VMware has a one year low of $43.25 and a one year high of $76.99.
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In related news, VP S. Dawn Smith sold 977 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $73.59, for a total value of $71,897.43. Following the sale, the vice president now directly owns 54,653 shares of the company’s stock, valued at $4,021,914.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider P. Kevan Krysler sold 6,988 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $72.40, for a total transaction of $505,931.20. Following the completion of the sale, the insider now directly owns 78,654 shares in the company, valued at $5,694,549.60. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in VMW. Dodge & Cox boosted its stake in VMware by 227.2% in the first quarter. Dodge & Cox now owns 9,164,491 shares of the virtualization software provider’s stock valued at $479,395,000 after buying an additional 6,363,556 shares in the last quarter. Paulson & CO. Inc. bought a new stake in VMware during the second quarter valued at about $112,844,000. Renaissance Technologies LLC boosted its position in shares of VMware by 76.3% in the first quarter. Renaissance Technologies LLC now owns 2,285,300 shares of the virtualization software provider’s stock worth $119,544,000 after buying an additional 989,100 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of VMware during the second quarter worth $51,017,000. Finally, Sirios Capital Management L P acquired a new position in shares of VMware during the second quarter worth $37,115,000. 22.02% of the stock is currently owned by institutional investors and hedge funds.
VMware Company Profile
VMware, Inc is a provider of virtualization infrastructure solutions and cloud infrastructure solutions. The Company develops and markets its product and service offerings within three product groups, which include software-defined data center (SDDC), hybrid cloud computing and end-user computing (EUC).
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